secwatch.observer — SEC 8-K summary
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Issuer:     Odyssey Semiconductor Technologies, Inc. (—)
CIK:        0001781405
Form:       8-K
Filed at:   2024-03-15T23:59:59+00:00
Accession:  0001437749-24-008136
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Odyssey Semiconductor to sell substantially all assets for $9.52M cash
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- Asset Purchase Agreement with a large semiconductor buyer for $9.52M cash.
- Go-shop period runs to April 1, 2024; company may solicit alternative proposals.
- Closing expected on or around July 1, 2024, subject to stockholder approval and conditions.
- Termination fees: if Seller terminates for superior proposal, larger of 4% of offer or $0.5M; Buyer can terminate without cause for $1.5M.
- Buyer's name withheld until April 1, 2024; buyer described as a large semiconductor company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781405/000143774924008136/0001437749-24-008136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781405/000143774924008136/odii20240312_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-008136

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